hi all traders , im waiting for CPI news on Thursday , Gold could make some short movements , because we see it makes LL and LH on chart , 0.786 fibonacci level of wave A is strong resistance too (if this level breaks , im going long ) , and if you see more accurate , she is making a triangle on lower TF. Hope you like this analysis , wish you profits.
since last year , price dropped to downtrend channel that seems to be a bullish flag , i think its going to end soon , prefer the black flashes for future and the end of second zigzag (ABC) i expect a correction as a pullback ( new X wave ) , and i don't see any weakness in this up trend , actually see more power. but we are close to top of our flag , mind a...
as we see on this pair , price is touching an old support that belongs to weekly time frame and make some divergence on 4H and 1H time frames on RSI , she could make some bullish movement as a trend or correction. lets see
price could have a pullback to the strong resistance which have been broken last week. i expected sell setups at red zone , then buy setups at green zone !! monitoring price action on lower time frames for entries , GL <3